The global automotive sensors market is expected to register a CAGR of
around 8% during the forecast period of 2018-2023.

According to the World Health Organization, more than 1.25 million
people are killed in road accidents every year and about 50 million
people get injured. For instance, major automakers have agreed to
install automatic emergency braking systems in nearly all vehicles in
the United States, by September 2022. Similarly, the EU Commission is
considering introducing automatic braking system and making it mandatory
for cars.

Automated and connected vehicle technologies are among the most highly
researched automotive technologies. Connected car devices essentially
assist in monitoring vehicles and drivers. The devices also keep private
automobile owners, as well as fleet managers updated about their
vehicle's performance on the fuel economy index, emissions, on-board
diagnostics (OBD), vehicle maintenance, and recalls. Some devices also
provide GPS tracking and real-time alerts. Connected vehicles could
dramatically reduce the number of fatalities and serious injuries caused
by accidents on roads and highways.